Coal India close to achieving e-auction target for FY17

Coal India has almost achieved its e-auction target for the current fiscal, and is looking at offering additional supplies.

At the start of the year, it targeted eauction sales of 120 million tonnes of which it has already achieved 113 million tonnes by December, officials said.

On offer is an additional 5 million tonnes which company officials think would be lapped up as its prices would be far lower than the international prices and it would offer a long-term assured contract which could be extended to 25 years. This would make it 118 million tonnes against a target of 120 million tonnes “We are now looking at offering additional volumes depending on the demand and stock positions at various coalfields,“ a senior Coal India official said.